| 1 | 1 | | I |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 1270 |
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| 5 | 5 | | To suspend the production of the penny and nickel, to require the Comptroller |
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| 6 | 6 | | General of the United States to carry out a study on pennies and |
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| 7 | 7 | | nickels, and for other purposes. |
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| 8 | 8 | | IN THE HOUSE OF REPRESENTATIVES |
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| 9 | 9 | | FEBRUARY12, 2025 |
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| 10 | 10 | | Mr. S |
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| 11 | 11 | | CHWEIKERTintroduced the following bill; which was referred to the |
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| 12 | 12 | | Committee on Financial Services |
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| 13 | 13 | | A BILL |
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| 14 | 14 | | To suspend the production of the penny and nickel, to re- |
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| 15 | 15 | | quire the Comptroller General of the United States to |
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| 16 | 16 | | carry out a study on pennies and nickels, and for other |
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| 17 | 17 | | purposes. |
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| 18 | 18 | | Be it enacted by the Senate and House of Representa-1 |
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| 19 | 19 | | tives of the United States of America in Congress assembled, 2 |
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| 20 | 20 | | SECTION 1. SAVING TAXPAYERS MONEY BY SUSPENDING 3 |
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| 21 | 21 | | PRODUCTION OF THE PENNY AND NICKEL. 4 |
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| 22 | 22 | | (a) T |
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| 23 | 23 | | EMPORARYSUSPENSION OFPRODUCTION.—Ex-5 |
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| 24 | 24 | | cept as provided in subsection (b) and notwithstanding 6 |
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| 25 | 25 | | any other provision of law, the Secretary of the Treasury 7 |
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| 26 | 26 | | shall cease production of one-cent and five-cent coins dur-8 |
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| 27 | 27 | | VerDate Sep 11 2014 22:28 Mar 10, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1270.IH H1270 |
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| 28 | 28 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 2 |
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| 29 | 29 | | •HR 1270 IH |
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| 30 | 30 | | ing the 10-year period beginning on the date of enactment 1 |
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| 31 | 31 | | of this Act. 2 |
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| 32 | 32 | | (b) E |
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| 33 | 33 | | XCEPTION.— 3 |
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| 34 | 34 | | (1) I |
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| 35 | 35 | | N GENERAL.—The Secretary of the Treas-4 |
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| 36 | 36 | | ury shall continue to produce one-cent and five-cent 5 |
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| 37 | 37 | | coins as appropriate solely to meet the needs of nu-6 |
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| 38 | 38 | | mismatic collectors of that denomination. 7 |
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| 39 | 39 | | (2) S |
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| 40 | 40 | | ALE.—The coins produced under para-8 |
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| 41 | 41 | | graph (1) shall be sold in accordance with other gen-9 |
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| 42 | 42 | | eral provisions governing numismatic coins (as op-10 |
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| 43 | 43 | | posed to circulating coins). 11 |
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| 44 | 44 | | (3) N |
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| 45 | 45 | | ET RECEIPTS.—The net receipts from the 12 |
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| 46 | 46 | | sale of one-cent and five-cent coins produced under 13 |
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| 47 | 47 | | this subsection shall equal the total cost of produc-14 |
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| 48 | 48 | | tion, including variable costs and the appropriate 15 |
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| 49 | 49 | | share of fix costs of production, of the one-cent and 16 |
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| 50 | 50 | | five-cent coins, respectively, as determined by the 17 |
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| 51 | 51 | | Secretary of the Treasury. 18 |
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| 52 | 52 | | (c) N |
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| 53 | 53 | | OEFFECT ON LEGALTENDER.—Notwith-19 |
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| 54 | 54 | | standing any other provision of this section, one-cent and 20 |
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| 55 | 55 | | five-cent coins are legal tender in the United States for 21 |
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| 56 | 56 | | all debts, public and private, public charges, taxes, and 22 |
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| 57 | 57 | | duties, regardless of the date of minting or issue. 23 |
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| 58 | 58 | | VerDate Sep 11 2014 22:28 Mar 10, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H1270.IH H1270 |
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| 59 | 59 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 3 |
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| 60 | 60 | | •HR 1270 IH |
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| 61 | 61 | | SEC. 2. GAO STUDY ON THE EFFECTS OF THE SUSPENSION 1 |
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| 62 | 62 | | OF PRODUCTION OF THE PENNY AND NICK-2 |
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| 63 | 63 | | EL. 3 |
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| 64 | 64 | | Not later than 3 years after the date of enactment 4 |
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| 65 | 65 | | of this Act, the Comptroller General of the United States, 5 |
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| 66 | 66 | | in consultation with the Secretary of the Treasury, Direc-6 |
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| 67 | 67 | | tor of the United States Mint, and the Commissioner of 7 |
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| 68 | 68 | | the Internal Revenue Service, shall— 8 |
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| 69 | 69 | | (1) study the effect of the suspension of produc-9 |
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| 70 | 70 | | tion of the one-cent and five-cent coins under this 10 |
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| 71 | 71 | | Act; and 11 |
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| 72 | 72 | | (2) submit to the Committee on the Budget and 12 |
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| 73 | 73 | | the Committee on Banking, Housing, and Urban Af-13 |
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| 74 | 74 | | fairs of the Senate and the Committee on the Budg-14 |
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| 75 | 75 | | et and the Committee on Financial Services of the 15 |
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| 76 | 76 | | House of Representatives a report— 16 |
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| 77 | 77 | | (A) on whether production should remain 17 |
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| 78 | 78 | | suspended, be permanently ended, or be rein-18 |
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| 79 | 79 | | stated; and 19 |
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| 80 | 80 | | (B) that considers— 20 |
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| 81 | 81 | | (i) the net savings from the suspen-21 |
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| 82 | 82 | | sion of production of the one-cent and five- 22 |
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| 83 | 83 | | cent coins; and 23 |
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| 84 | 84 | | (ii) the effect of rounding cash pur-24 |
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| 85 | 85 | | chases up or down to the nearest ten-cents. 25 |
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| 86 | 86 | | Æ |
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| 87 | 87 | | VerDate Sep 11 2014 22:28 Mar 10, 2025 Jkt 059200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H1270.IH H1270 |
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| 88 | 88 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB |
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